Hi, Advanced Revenue Recognition Question: Does an...
# accounting
l
Hi, Advanced Revenue Recognition Question: Does anyone know which event the system refers to in the REV REC END DATE SOURCE : Event?
a
The 'event' is specified on the item record by the 'create revenue plans on'. Example - the plan gets created on billing, this is the event to trigger a revenue plan (the revenue arrangement is always created from the first transaction in a string, most often the sales order)
l
interesting... the create revenue plans on = Revenue Arrangement. The Source on the revenue arrangement shows as the Sales Order creation date. SO the system takes the SO date as the end date of the rev rec.... awkward set-up
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a
I guess if you wanted to recognize revenue at point in time of sale, but most commonly I have been this setup when revenue should be recognized at invoicing
l
thanks Alex for your help on this! I will test with create revenue plans on - billing